8-10 Wellington Street, Aldershot GU11 1DZ | Property for sale | Savills
Guide price £800,000(€944,754)

8-10 Wellington StreetAldershot GU11 1DZ

  • New
  • Sole agency
  • Virtual freehold
Investment
Yield 9%Yield

Key features

  • Prime Retail Investment
  • Let to Merkur Slots UK Limited
  • 14 Years Unexpired
  • Producing £75,000 per annum
  • Tenant in Occupation for 40+ Years
  • 4,845 sq ft (450.1 sq m)
  • Medium/Long Term Development Potential (stp)
  • Prime Pedestrianised Street
  • Guide Price Reflects 9.4% Gross Yield

Retail Investment Opportunity Let to Merkur Slots with 14 Years Unexpired Producing £75,000 p/a Approx. 4,845 sq ft. Occupying a Prime Corner Pitch on a Street

About this property

  • The property comprises a retail investment opportunity let to Merkur Slots and located on a prime pedestrianised street. Arranged across ground and first floors, the property is let in its entirety to the well regarded covenant of Merkur Slots UK Limited on a 15 year lease expiring 01/06/2038 and paying £75,000 per annum. The tenant is a long-standing occupier having been in occupation for over 40 years. The property presents both an asset management and medium/long term development opportunity with potential to convert the upper parts to alternative uses, including residential (subject to the existing lease and any requisite consents).

Additional information

  • The property is let in its entirety to Merkur Slots UK Limited on a 15 year lease expiring 01/06/2038 and producing £75,000 per annum.
  • The lease is on full repairing and insuring terms and includes upward only rent reviews and tenants break options in 2028 and 2033.
  • Merkur Slots UK Limited
  • D&B Rating: 2A1
  • Turnover (2023): £181.5m
  • Pre-Tax Profit (2023): £4.33m
  • Total Assets (2023): £86.3m
  • Employees: 1,811